Mastercard Plans Multi-Million Dollar Renovation Of Purchase, New York, Headquarters And Plans To Establish NYC Tech Lab
Area Development Online News Desk (12/12/2013)
MasterCard is undertaking a multi-million renovation of its headquarters building in the Westchester County city of Purchase, New York, in order to better accommodate its existing workforce and create 270 new jobs in the area.
The company also plans to invest several million dollars to establish a new mobile e-commerce technology lab in New York City, which will lead to 122 new research and development and software jobs in Manhattan.
“MasterCard’s decision to grow their operations in New York is a testament to how state government is working to attract private sector investments and create jobs,” Gov. Andrew Cuomo said. “With an expanded facility in Purchase and a new technology lab in New York City, MasterCard is reaffirming their commitment to New York State, creating nearly 400 jobs and supporting families throughout the region. I am pleased that my administration could step in to support these significant expansion projects.”
"New York has been MasterCard's global headquarters for nearly 50 years,” said Ajay Banga, president and CEO, MasterCard. “We appreciate Governor Cuomo and the state’s support and partnership as we expand our employee base in Purchase and launch our new digital innovation hub in New York City.”
Earlier this year, MasterCard embarked on two important initiatives – an assessment of its metro New York operations and the expansion of its e-commerce digital solutions, the Governor’s Office said. The company weighed its options and with the assistance of performance-based Excelsior tax credits from Empire State Development, MasterCard decided to undertake a major multi-million renovation of its headquarters building and leased facility in order to accommodate its existing workforce and add 270 new jobs over the next five years.
Separately, ESD offered performance-based Excelsior tax credits to encourage MasterCard to move ahead with its proposed project to establish a new mobile and e-commerce development office in New York City to create new payment solutions providing consumers the ability to make a payment from wherever they are – with a traditional plastic card, on a computer or with a smartphone.
Empire State Development President, CEO and Commissioner Kenneth Adams said, “The expansion of MasterCard’s New York operations is a testament to the efforts we have made under Governor Cuomo to improve the business climate and make New York State a place where globally recognized companies want to invest and create jobs. MasterCard’s multi-million dollar investments will bring nearly 400 jobs to the Hudson Valley and New York City, and our new marketing partnership will provide New Yorkers with even more “priceless” experiences across the Empire State.”